Luxury fashion retailer Matchesfashion.com has announced plans to open a new store in Mayfair, expanding its bricks-and-mortar presence.
According to the Business of Fashion (BoF) the new store will stretch over a 5000sq ft and six storeys, including two general retail floors and a further three for private shopping.
Set to open in autumn this year, the new space at 5 Carlos Place in the posh London district will feature no rails, shelves or desks.
Instead, it will rely on a point-of-sale app that allows the company to monitor and track every purchase.
Carlos Place will also act as a flagship for the brand‘s “In Residence” events which include installations, fashion shows and live streamed talks.
The new store will mark Matchesfashion.com‘s sixth in London, despite the brand reportedly acquiring 95 per cent of its revenue stream from online purchases outside of the UK.
“I want it to feel like an inclusive, democratic space,” executive chairman Tom Chapman told BoF.
“We‘re not some elitist fashion store. It‘s a place that students want to come and see because they can get inspired by it.
“It‘s a place that everyone can come and get involved and see what‘s happening. So it feels like this incredible space that is very beautiful that brings people together … This isn‘t about the revenue. It‘s about the experience and the collateral that we can produce.”
The company reported a 45 per cent year-on-year growth in the UK in March, while overseas revenues grew a further 80 per cent and online revenues grew by 73 per cent.